Executive Summary
On February 19, 2026, Axis Capital Limited announced an open offer for Novartis India Ltd, targeting public shareholders with plans to acquire up to 64,19,608 equity shares, which represents 26% of the company's voting share capital. The offer price is set at INR 860.64 per share, amounting to a total consideration of approximately INR 552.5 crore. This move is part of a strategic acquisition involving multiple investment entities, highlighting significant interest in Novartis India.
Key Highlights
The open offer aims to acquire 64,19,608 equity shares of Novartis India Limited, equating to 26% of its voting share capital.
The offer price is fixed at INR 860.64 per share, totaling INR 552.49 crore in cash consideration.
Analysis & Significance
This open offer is significant as it showcases the intent of the Acquirers to gain substantial control over Novartis India, which may lead to strategic shifts in management and operations. The acquisition of 70.68% of the company's shares through the underlying transaction indicates a strong confidence in the company's future potential.
For investors, this open offer presents an opportunity to realize gains at a premium price, especially if they believe in the long-term growth prospects of Novartis India. The structured nature of the offer, coupled with the backing from established investment funds, adds a layer of credibility and stability to the transaction.
Conclusion
Novartis India Ltd's open offer marks a pivotal moment for public shareholders, offering a chance to sell at a favorable price amidst a backdrop of strategic acquisition. The governance and transparency associated with this process reflect positively on the company's commitment to its shareholders.